Tag Archives: development

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Gulf Coast Village Opens Health Care Expansion

Community leaders, representatives from Volunteers of America and others gathered earlier this month for the grand opening of Palmview, a health care expansion at Gulf Coast Village’s continuing care campus in Cape Coral, Fla.

Sponsored by Volunteers of America, Gulf Coast Village first broke ground on this expansion project in fall 2015. The $31 million expansion project includes 80 new assisted living units and 48 new memory care suites in a 130,980-square-foot, three-story structure.

The finished result is receiving rave reviews:

“We couldn’t be more proud that the vision is finally coming true,” Gulf Coast Village Executive Director Kevin Ahmadi told CapeCoral.com. “We set that vision out a couple of years ago and to see it begin to take shape is very rewarding.”

“This is something we are in dire need of in our city,” said Cape Coral Economic Development Manager Dana Brunett. “We have a large deficiency in assisted living facilities in Cape Coral. We have a couple more coming online over the next 18 months. It just shows that our city is growing and the amenities necessary to support that are coming online. This project and those like them are a critical aspect of our growth.”

“We wanted a wow factor,” said Volunteers of America Executive Vice President Wayne Olson. “Not only a facility to meet residents’ basic needs but a building people wanted to come to.”

Greystone served as development consultant on the Palmview expansion in addition to its role as management consultant at Gulf Coast Village.

Learn more about Gulf Coast Village.

See CapeCoral.com’s photos of the Palmview expansion.

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Mary’s Woods Finances for Growth

On the banks of the beautiful Willamette River, a 16-year-old non-profit senior living community is capitalizing on its strong market reputation to grow for the future. Mary’s Woods at Marylhurst financed its existing continuing care campus in 1999 and it first opened in 2001.

Located in the Portland suburb of Lake Oswego, Ore., the community currently includes 233 independent living units, 50 independent living villas, 55 assisted living units, 23 memory support suites, 26 residential care suites and five licensed skilled nursing beds.

In April, Mary’s Woods secured $114,815,000 in tax-exempt bond financing and $60,250,000 in tax-exempt mandatory paydown securities that will help it add more units and serve more seniors.

The expansion will be called The Village at Mary’s Woods, and it will include 144 independent living units, 48 assisted living units, two common area buildings, 152 underground parking spaces and 150 above-ground parking spaces. One of the unique aspects of the project is a residential Town Square that will offer convenient services and programs that the organization has learned its residents appreciate and need.

Construction of this expansion will take place on 12 unused acres on the community’s existing 75-acre campus. Substantial construction is scheduled to end in phases, with completion of the first buildings to begin in late 2018 and completion of the entire project in late spring or early summer of 2019.

Mary’s Woods is led by a 16-member board of directors that includes Board Chair David Galt and Chief Executive Officer Diane Hood. This expansion will help Mary’s Woods capitalize on a market opportunity and serve its waitlist that includes more than 300 prospective residents.

“At the start of this project, our management team recognized the need for outside experience and expertise, both to ensure ultimate success and to provide assurances to our board as we moved forward,” Hood said. “Greystone brought a third-party perspective and a first-party investment in the project. They also brought a strong industry reputation, which was immensely helpful in navigating the capital markets to secure financing.”

Senior Vice President Stuart Jackson led Greystone’s work on this project:

“Mary’s Woods enjoys an incredible reputation in its market, which helped this expansion sell out as quickly as any that Greystone has worked on since the Great Recession,” Jackson said. “It’s been a pleasure to support such a strong organization — Diane and her team were excellent to work with. They are making a difference in the lives of their current residents, and this expansion will help them make a difference in many more lives in the future.”

Learn more about The Village at Mary’s Woods.

See renderings of the project in the gallery below.

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Coming in July: The Greystone Event 2016

Mark your calendars for July 13–15 when The Greystone Event 2016 returns to the Four Seasons Resort and Club Dallas at Las Colinas. Each summer, The Greystone Event serves as a mid-year opportunity for senior living professionals to gather for education sessions, mutual learning, networking and social events. This year’s Event will be no different.

Contact us if you’re interested in attending The Greystone Event 2016. See highlights from last year’s Event using the video player below, and read more in our follow-up from the 2015 gathering.

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ABHOW’s The Terraces at Los Altos Earns Industry Honor

Senior Housing News has announced the winners of the 2015 SHN Design Awards, and ABHOW’s The Terraces at Los Altos has been named Best Repositioning.

Located in Los Altos, Calif., The Terraces was first developed in the mid-20th century under the name Pilgrim Haven. About 15 years ago, ABHOW decided that the community needed refreshing. It renamed Pilgrim Haven as The Terraces at Los Altos in 2010, and ground broke on a significant repositioning project in 2012 — with Greystone serving as development consultant.

Read the feature from Senior Housing News to get an in-depth look at the repositioning of this ABHOW community and the motivations behind the project.

Learn more about The Terraces at Los Altos.

See photos of the finished repositioning in the gallery below.

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Santa Marta’s Phase II Takes Shape

New assisted living, memory support and skilled nursing units, plus new commons areas, are under construction at Santa Marta, a continuing care retirement community in Olathe, Kan. Sponsored by the Archdiocese of Kansas City in Kansas, Santa Marta first opened in 2007. Its early success and strong reputation in the market created demand that necessitated this Phase II expansion. Here’s a look at where construction stands:

Assisted Living and Memory Support

The new assisted living and memory support space is part of a three-story structure whose first floor will be used as basement storage. The second floor includes 12 memory support units, each 356 square feet, as well as a sunroom and multi-purpose room. The third floor includes eight assisted living units, available in four different unit types. The assisted living floor also includes a multi-purpose space.

Construction crews are currently installing roof framing and trusses on this new three-story structure. All exterior windows have been installed, and, once the roof is complete, interior mechanical, electrical and plumbing installation will begin. Completion of this new structure is expected in December 2016.

Skilled Nursing

The skilled nursing addition includes 18 private units. Residents choose from among four unit types that range in size from 283 to 311 square feet. Commons areas in this new skilled nursing space will include a chapel, multi-purpose room, dining room, TV room and administrative offices.

Currently, interior mechanical, electrical and plumbing systems are being installed, along with interior drywall and exterior masonry. The roof is complete and all exterior windows are installed. Full completion is expected in November 2016.

Renovation of Existing Spaces

Santa Marta’s Phase II isn’t limited to expansion. As part of the project, the community will renovate existing skilled nursing and memory support dining spaces to make room for more seating. Santa Marta will also renovate its existing physical therapy space to enhance capacity. Renovation of these spaces will begin in summer 2016 and end in December 2016.

Greystone is serving as development consultant at Santa Marta, in addition to its responsibilities as marketing and management consultant. See construction photos taken March 24 in the gallery below. Learn more about Santa Marta.

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The 2016 ZGES Survey: Insights From Senior Living Executives

The 2016 Ziegler Greystone Executive Symposium welcomed senior living leaders from around the country March 2 to 4 in New Orleans, La. This year’s event addressed current and relevant trends and topics including:

  • Transforming Business Models
  • Accessing Capital to Finance Change
  • Repositioning for Comparative Advantage
  • Creating Urgency in Marketing
  • Mission-Driven Business Outcomes
  • Planning for Growth
  • More

In addition to these sessions, attendees took part in the annual ZGES Survey of Industry Trends. This survey seeks to capture the current mood of non-profit providers, including what their organizations are doing in response to their local environments. It’s always fascinating to see how the responses change year-over-year, providing a look at the trajectory of senior living as given by top executives from leading organizations.

Here are a few key findings from this year’s survey:

The Respondents: 23 organizations completed a survey, including 14 single-site organizations and one that has yet to develop a community.

Economic Outlook: 41 percent of respondents are more optimistic about the economic outlook compared to last year, while 55 percent remain unchanged in their optimism.

Real Estate Market: 17 of 23 respondents see the real estate market as strong, while three see it as excellent.

Sales Incentives: 59 percent of respondents are continuing with existing sales incentives, while 27 percent have scaled back. By comparison, only 10 percent of respondents had scaled back sales incentives in 2015.

Current Threats: The most significant threats as seen by these providers are the regulatory environment and reimbursement changes, followed by for-profit competition and operating costs.

For-Profit Competition: 78 percent of respondents indicate that for-profit investment in their markets has increased from last year.

Occupancy Concerns: Providers are less concerned about independent living occupancy and more concerned about assisted living and memory support occupany.

Succession Planning: 78 percent of respondents anticipate succession in the next 10 years, but 57 percent of respondents currently have no succession plans in place.

Growth Plans: 21 of 23 respondents are currently planning a redevelopment or expansion.

Growth Readiness: 12 of 23 respondents say they are actively planning for new opportunities and that their boards are ready, while 8 of 23 are currently focusing on existing campuses.

Types of Growth Initiatives: 19 of 23 organizations are considering multiple growth initiatives.

The Next Three Years: In the next three years, 10 respondents are looking at new development, 16 at expansion of an existing campus, and 10 at redevelopment of an existing community.

Investment Constraints: Access to a quality site and capital market requirements are the most common constraints to investment, followed by staff time and pre-finance funding.

Contact us if you’d like to participate in the 2017 Ziegler Greystone Executive Symposium.

See the full presentation report of this year’s survey findings.

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Greystone Hosts Sales School, Development Conference

Greystone hosted two important events at its Dallas-area offices this October — Sales School and the Annual Development Conference. These events are part of an ongoing effort to gather senior living professionals from different disciplines and different areas around the country to spend time sharing ideas and talking about how to improve at creating quality living environments for today’s seniors.


Sales School

More than 50 senior living marketers met in October for the Greystone Sales School. Sales School is designed as an annual opportunity for both new and experienced marketers to spend time discussing what’s going on at their communities and learning about the latest trends and innovations in:

  • Referrals
  • Opening a community
  • Development cycles
  • Customer profiles
  • Adult child influencers
  • First impressions and visitor experience
  • Lead management
  • Wait list options
  • Digital inquiries
  • Anticipating objections
  • Much more

Development Conference

This year’s Development Conference focused on one theme: How can we all work better together? Development of a senior living community includes a development consultant, architect, contractor, interior designer, engineer and many other professionals. As with any complicated process, there are roadblocks and challenges along the way. This year’s education sessions were focused more on dialogue among attendees and the objective of improving teamwork across the process.

Look for more content next month as these senior living development professionals continue to talk through ways to improve efficiency and effectiveness in their work. See photos from the Annual Greystone Development Conference in the gallery below.

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SantaFe’s East Ridge Opens New Health Center

SantaFe Senior Living has opened the new health center at East Ridge at Cutler Bay, its 53-year-old senior living community serving the Miami area. The addition, called “Three Palms,” features new assisted living, memory support, skilled nursing and rehabilitation units.

Change at East Ridge emerged from a dialogue between SantaFe, East Ridge management and existing residents.

“Residents formed a task force and conceived a new philosophy based on ‘Choice and Change,’ which focused on services and care that they would want should, and if, they needed the services in skilled nursing, assisted living and memory care,” said East Ridge Director of Sales Rick Drew, who is quoted in a Cutler Bay News story. “The new direction of Three Palms focuses on resident-centered living whereby the resident is empowered to direct what they want and when. Always at the core is what the resident wants.”

The new units breakdown as follows:

  • 90 private assisted living apartments
  • 31 private memory support suites
  • 74 private skilled nursing rooms

Greystone is serving as development consultant at East Ridge. Learn more about East Ridge at Cutler Bay and its new services. See the latest aerial construction photos in the gallery below.

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Catalyst Magazine Features John Knox Village

Catalyst magazine features John Knox Village in its 4th Quarter issue. The story takes a look back at JKV’s history on the CCRC’s 45th anniversary, and it takes a look forward at JKV’s future by describing the ongoing renovation project. Catalyst is a quarterly publication of the Chamber of Commerce of Lee’s Summit, Mo., where John Knox Village is located.

Click the image to see a PDF of the story. (Post continues below.)

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The next big landmark in JKV’s $90 million renovation is the opening of The Courtyard, the project’s first phase that includes 52 one- and two-bedroom apartments, a new restaurant, a beauty salon and an activity room. The Courtyard is expected to open in late 2015. Greystone is serving as development consultant at John Knox Village. SFCS is project architect, and Studio Six5 is interior designer.

See renderings of The Courtyard in the gallery below.

Learn more about John Knox Village.

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Edgewood Summit Celebrates 20 Years of Service

In the early 1990s, residents in Charleston had to look outside of West Virginia when searching for an independent or assisted living community — those services simply didn’t exist in the Mountaineer State.

The Arthur B. Hodges Center, a local nursing home, wanted to change that. The Center’s leadership engaged Greystone to begin planning an independent and assisted living community for Charleston. And on April 15, 1995, the first residents arrived at Edgewood Summit, a mountaintop community that included 90 independent living units and 40 assisted living units.

Twenty years and two expansions later, Edgewood Summit is now a full-service CCRC, enjoying a strong brand in the market and a thriving population of vibrant West Virginia seniors. The Charleston Gazette-Mail featured Edgewood Summit earlier this month to recognize its 20th anniversary. The article includes quotes from original and current residents, as well as Executive Director Diane Gouhin, who has been at the community since it first opened.

Read the full story.

Greystone served as development consultant during Edgewood Summit’s construction, as well as its two expansion projects. Greystone has also served as management consultant at Edgewood Summit since it first opened.

“Edgewood Summit has a strong history,” said Greystone Vice President Dave Keaton, who works with the community. “It owns a long-lasting reputation as the retirement community of choice, not only in Charleston, but throughout West Virginia and Southern Ohio. The community is well positioned for future success now that it offers the complete continuum.”

Congratulations to Edgewood Summit on 20 wonderful years.

Learn more about Edgewood Summit.

See the Gazette-Mail’s images in the gallery below. (Courtesy of the Gazette-Mail.)

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